Trade Receivables

The Bank's reference market is the short-term trade receivable segment (short-term cash loans to non-financial companies and producer households), which amounted to 268 billion Euro at 30 June 2014. Overall, it was down 26% from 31 December 2008, when it was worth 360 billion Euro. The fall registered since the crisis broke out is the result of both slowing demand and the credit crunch, with financial intermediaries scaling back their support to Italy's economy.

The factoring market – the Bank supports businesses through factoring – accounts for only a fraction of Banca IFIS's reference market, and therefore turnover (i.e. the volume of receivables purchased during the period) and the relevant positioning do not represent a strategic goal, although they have a positive impact in terms of image, value and market perception.

Shifting the focus to this segment, in 2014 it saw its volumes increase.